2018-19 Medicare Supplement Insurance Plans

2019 Medicare Supplement Insurance Plans

Compare
Medicare Supplement
Insurance Rates

Comparing Medicare Supplement Plans

Our independent agency offers Medicare Supplement insurance plans direct from several highly rated carriers. Our quotes and information are accurate and unbiased. We can help you shop for the lowest rates with the most dependable Medigap carriers in your state.

Medicare supplement insurance is only offered from private insurance companies. Prices are controlled by law, so your rates will be the same no matter your source of purchase. Using a brokerage like ours eliminates the hassle of calling each company on your own. We offer their rates direct to you at no additional cost. We also provide important information about discounts, renewal history, rate stability and customer service.

2019 Medicare Supplement Insurance Benefits & Gaps

Supplement Plan:

A

B

C

D

F

G

K

L

M

N*

Part A Hospital Coinsurance

Lifetime Reserve

365 Hospital Days

Parts A and B Blood

50%

75%

Part B Coinsurance

50%

75%

Hospice Coverage

50%

75%

Skilled Nursing

50%

75%

Part A Deductible

50%

75%

50%

Part B Deductible

Part B Excess

Foreign Travel Emergency

Preventive Care

2019 Out of Pocket

$5,560

$2,780

Key: A ✔ means the benefit on the left is covered by the corresponding supplement up top. For example, Plan F checks all boxes and fills in all gaps in Medicare Parts A & B.

*Plan N has a $20 copay for office visits and $50 copay for ER visits.

Most Popular Medicare Supplements: Plans F, G & N

These three are popular because they cover most gaps and are offered by several competing carriers. This competition helps to keep premiums low for new enrollees and those who are shopping for better rates.

Plan F is the most comprehensive plan – it checks all of the boxes as you can see in the chart above. It’s the most popular plan, but it does not necessarily offer the best value. More on that below. Traditional Plan F covers all deductibles, copays and coinsurance not covered by Medicare. As you might guess, it has the highest monthly premiums.

So long as your healthcare expenses are approved by Medicare (and most are), Plan F will fill in all of the remaining gaps. You will have nothing more to pay. It does not matter how big the bill, Plan F picks up where Medicare leaves off. There are no calendar year or lifetime maximums – your policy will never stop paying – and it can never be cancelled so long as you pay your premiums. (This is true of all Supplements by the way.)

It’s very important to note that recent legislation was passed eliminating the sale of any Medicare supplement covering the Part B deductible. This change begins in January of 2020. Plans affected include C, F and High Deductible F. If you have these policies, you can keep them – and even shop for new ones after 2020. This legislation only affects those who are new to Medicare in 2020 and thereafter. Those beneficiaries will not be able to purchase Plans F, C and HD Plan F. We are seeing more interest in Plan G and N because of these changes.

(Plan F also comes in a high deductible version that has a $2,300 deductible for 2019. It was $2,240 for 2018, $2,200 in 2017 and $2,180 in both 2016 and ’15. This deductible must be met before your High Deductible Plan F supplement will pay benefits, but Medicare still pays its portion as it normally would. HD Plan F rates are the lowest available in most states and are easily distinguishable from traditional Plan F. Our clients who are in very good health tend to enjoy this variation of traditional Plan F.)

We also have written a two-part series that asks and answers the most common questions we encounter about Medicare supplements. This is a great place to start learning about Medigap insurance. You can access it here:

Supplemental Insurance Plans G And N Offer Good Value

Plan G is very popular as it fills in all gaps in Original Medicare except for the small Part B deductible. For 2019, the Medicare Part B deductible is only $185 – only $2 more than it was in 2018. Plan G premiums can be more than $20 a month less than Plan F which makes Plan G a financially smart choice. In other words, why pay $25 a month to cover a one-time $185 deductible? It doesn’t add up.

And if the Part B deductible increases? Well in that case, Plan F carriers will raise their rates to cover it. They won’t absorb the extra cost. One way or the other you’re paying for it. Plan G gives you a little more control and almost always saves you money each year.

Like Plan G, Plan N does not cover the one-time, yearly Part B deductible. Additionally, it’s the only plan with office copays: A maximum of $20 for a doctor visit and $50 for the ER. Finally, Plan N does not cover Part B Excess Charges, but these are hardly ever encountered. In fact, many states do not allow doctors to charge part B Excess Charges to their patients.

Plan N can be another $20 or so less than G on a monthly basis. When deciding between the two, our clients who don’t often see the doctor usually choose Plan N. It offers great value when comparing benefits and monthly premiums. In many areas, it costs well under $100 a month.

And you will usually experience smaller rate increases with G & N over Plan F. There are a few different reasons for this, but primarily it’s because Plan F must accept certain individuals without medical underwriting. Thus, it tends to have a larger percentage of the population and higher claims experience than most of the other Medigap policies. These higher claims can result in above average rate increases year over year.

Note: Some insurance carriers also offer a Select version of Plans C, F, and N. In exchange for lower rates, Select plans require the use of a predetermined network of doctors and hospitals for routine (non-emergency) services. Owners of Select Plans C, F, & N are not restricted to networks for emergency services however.

Did you know:

Nearly 11,000 people are turning age 65 daily for the next 11 years

Plan F is the most popular Medicare supplement with close to 40% enrollment

There are approximately 45 million people enrolled in Medicare

By 2030, nearly 20% of the population will be 65 or older

Medicare can charge you more for Part B and Part D based on your income

Part B premiums can vary if you’ve deferred Social Security

Part D Prescription Drug Coverage Enrollment

By rule, there are no Medicare supplement insurance plans sold today that cover prescription drugs. Part D drug plans must be purchased on a stand-alone basis and cannot be bundled with your supplement. It’s wise to shop for Part D drug plans independently of your Medicare supplement insurance to find the most suitable coverage based on the rx’s you take.

So you will need four pieces to round out your coverage. You enroll in Medicare Parts A & B with the government – and then purchase a Medicare supplement (like Plans F, G, or N) and stand-alone Part D drug plan from private insurance companies. Two pieces come from the government and two pieces come from private insurance companies and are offered by agencies like ours. Once all four are in place, you should be all set.

We help our Medigap clients shop and compare drug coverage so as to find coverage that best suits their needs. There is no charge for this service with us. There is also a very good tool at the Medicare.gov website called Plan Finder that can help you compare plans and prices.

Contact Us To Compare Quotes, Benefits & Renewals

Hyers and Associates is an independent insurance agency specializing in Medicare supplement insurance plans, Part D drug policies and Medicare Advantage coverage. We license with all of our carriers direct – and offer all of our plans to you at no additional. We can help you better understand all of your options so that you make the best choice now for the best results in the future.

Contact us today to compare 2019 Medicare supplement insurance quotes and benefits from several companies side by side.

Medicare Terms & Definitions Explained:

Medicare Part A:

Most people are eligible for Part A with no cost at age 65 due to personal work credits – or through a spouse’s work history. This benefit covers inpatient hospital care, skilled nursing care, hospice and some home health care.

Medicare Part B:

Conversely, Part B benefits do have a monthly cost and it can vary based on your income. Most people elect Part B at age 65, but some defer enrollment if they have qualifying group coverage. This benefit covers medically necessary doctors services, preventive care, durable medical equipment, ambulance services, mental health care, outpatient services and more.

Medicare Part C:

This is where it can get confusing. Part C is another term for Medicare Advantage plans like HMOs and PPOs. These are all in one privately offered insurance policies purchased from major insurance companies like Humana, Aetna, United Healthcare and so on. Most Part C plans roll Parts A, D and D all into one policy. Some have monthly premiums and some do not. When you enroll in a Part C plan, you are allowing a private insurance company to cover your Medicare Parts A, B and usually D. You typically need to use their networks of doctors and hospitals. You still pay your Part B premiums even if you select a Part C Advantage policy.

Medicare Part D:

Just remember D stands for drug and you’ll know that Medicare Part D policies are stand alone prescription drug plans. Medicare does not typically cover prescriptions from your local pharmacy. Most consumers elect to purchase a Part D plan for their current or future prescription needs. Some Part C (Medicare Advantage) plans include Part D, but if you don’t enroll in one of those, then you should consider a Stand Alone Drug plan, This pharmacy drug benefit is only offered from private insurance companies as well – not the government.

Medicare Supplement Plans:

Parts A and B have several gaps that leave you exposed to additional out of pocket costs. Most people purchase a Medicare supplement policy like Plan G, F or N to fill these gaps. These policies are also offered from private insurance companies. There are only certain times you can purchase a policy without the need for medical underwriting, so be sure to talk with an independent insurance agent if you’re not sure.

You do not need both an Advantage plan and a Supplement. It’s one or the other. You can either fill in the gaps associated with Parts A & B with a Medicare supplement policy and Stand Alone Part D drug plan – or you can purchase an all in one Advantage policy.